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☆ Ford Halts Work on E.V. Battery Plant in Michigan
▼ + stars: | 2023-09-25 | by ( Jack Ewing | More About Jack Ewing | ) www.nytimes.com time to read: +1 min

Ford Motor, in the midst of tense contract negotiations with striking United Automobile Workers, said on Monday that it was suspending construction of a battery factory in Michigan because of concerns that the plant might not be able to make products at a competitive price. It was unclear whether the halt was related to negotiations with the union, or to other issues. Ford has come under attack from Republican lawmakers because it plans to manufacture batteries at the plant in Marshall, Mich., using technology licensed from CATL, a Chinese company that is the world’s largest maker of batteries for electric cars. At the same time, Ford has warned that increases in pay and benefits sought by the U.A.W. If unions got all that they were asking for, “we would have to cancel our E.V.

Persons: Ford, Jim Farley Organizations: Ford, United Automobile Workers Locations: Michigan, Marshall, Mich, CATL

Even after escalating its strike against Detroit automakers on Friday, the United Auto Workers union still has plenty of leverage in its effort to force the companies to agree to significant increases in pay and benefits. The UAW could, if it chose to, vastly expand the number of workers who could strike assembly plants and parts facilities of General Motors, Ford and Stellantis, the owner of the Jeep and Ram brands. All three companies said that talks with the union continued on Saturday, though officials said they expected no major announcements. In expanding the strike on Friday, the UAW struck only the parts-distribution centers of GM and Stellantis. Ford was spared from the latest walkouts because of progress that company has made in negotiations with the union, said UAW President Shawn Fain.

Persons: “, ”, Daniel Ives, Sam Abuelsamid, Abuelsamid, Ford, Shawn Fain, Wheaton, ’, Fain, —, “ It's, AutoNation, Mike Stanton, David Barnas, Jodi Tinson, Alexandra Olson Organizations: Detroit, United Auto Workers, UAW, General Motors, Ford, Jeep, GM, Wedbush Securities, Guidehouse, Fiat Chrysler . Service, Cornell University, National Automobile Dealers Association, Associated Press Locations: Detroit, Flint , Michigan, Sterling Heights , Michigan, Canada, United States, New York

REUTERS/Michael Swensen Acquire Licensing RightsCHICAGO, Sept 21 (Reuters) - United Auto Workers (UAW) members rallied against the Detroit Three automakers in multiple U.S. states on Thursday afternoon as Friday's deadline loomed for a threatened expansion of the union's strikes. The UAW last week launched unprecedented, simultaneous strikes at one assembly plant each of General Motors (GM.N), Ford (F.N) and Chrysler parent Stellantis (STLAM.MI). UAW workers want to end a tiered wage structure that they say has created a large gap between newer and older employees, forcing some to work two jobs to make ends meet. On Thursday morning, Fain posted a video message on X, formerly known as Twitter, to UAW members about the Friday deadline, showing scenes from several Hollywood movies with the characters saying "tick tock." Fain has said Detroit automakers have not shared their huge profits with workers while enriching executives and investors.

Persons: Phaedra Grant, Michael Swensen, Ayanna Dixon, Shawn Fain, Fain, Ford, Stellantis, Joe Biden, Karine Jean, Pierre said, Ram, Morgan Stanley, Adam Jonas, Eikon, Mark Reuss, Reuss, Tesla, Bianca Flowers, Hyunjoo Jin, David Shepardson, Ben Klayman, Kannaki, Peter Henderson, Jamie Freed, Nick Zieminski, Matthew Lewis Organizations: Ford, UAW, REUTERS, Rights, United Auto Workers, Detroit Three, General Motors, Chrysler, Reuters, GM, GM's, Silverado, Detroit, Detroit Free Press, Toyota, Tacoma, EV, Thomson Locations: Louisville , Kentucky, U.S, Chicago, San Francisco, Louisville, Washington, Detroit, Bengaluru

☆ The UAW's strike strategy pits the Detroit 3 against each other — and leaves room for longer walkouts
▼ + stars: | 2023-09-22 | by ( Nora Naughton | ) www.businessinsider.com time to read: +5 min

Ford, GM, and Stellantis have expressed displeasure with the strategy. After Furman's messages leaked Thursday night, the Detroit car companies expressed their displeasure with the union's strategy. Ford and Stellantis called the messages "disappointing" and "disturbing," while GM said the message "calls into question who is actually in charge of UAW strategy." The idea was met with skepticism by many, who said that an all-out strike would quickly drain the UAW's strike resources. That leaves plenty in the union's $825 million strike fund as the work stoppage expands Friday.

Persons: Stellantis, Shawn Fain, Fain, Ford, Jonah Furman, didn't Organizations: UAW, Ford, GM, Service, United Auto Workers, Detroit, The Detroit News, Twitter, Detroit News, Deutsche Bank Locations: Wall, Silicon, Detroit, Michigan , Ohio, Missouri

NEW YORK (AP) — The United Auto Workers' strike is getting bigger. Currently, UAW workers hired after 2007 don’t receive defined-benefit pensions. During walkouts, workers are set to receive about $500 a week in strike pay — far short of what they earn while they’re working. During a 40-day UAW strike in 2019, GM lost $3.6 billion. The UAW strike is also testing President Joe Biden’s claim that he’s the most pro-union president in U.S. history.

Persons: Ford, Shawn Fain, Fain, They’ve, “, ” Fain, ” Ford, Jonah Furman, Sam Fiorani, Joe Biden’s, Biden, Donald Trump, he’ll, Trump Organizations: United Auto Workers, UAW, General Motors, Stellantis, Motors, Detroit, Ford, GM, Detroit News, AutoForecast Solutions, Anderson Economic, White, autoworkers, U.S, Supreme, UPS, Teamsters, Cornell University Locations: United States, Korean, Detroit, Europe, Asia, U.S, Midwest, That’s, —

☆ Little news from UAW and automakers 'might be a good sign', says Fmr. Ford CEO Mark Fields
▼ + stars: | 2023-09-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLittle news from UAW and automakers 'might be a good sign', says Fmr. Ford CEO Mark FieldsHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Mark Fields, Brian Sullivan, “ Organizations: UAW, automakers, Ford, CNBC

☆ Detroit Three under pressure to progress UAW talks, avoid wider auto strikes
▼ + stars: | 2023-09-21 | by ( Hyunjoo Jin | ) www.reuters.com time to read: +3 min

Striking United Auto Workers members picket outside the Stellantis Jeep plant in Toledo, Ohio, U.S. September 19, 2023. The UAW last week launched unprecedented, simultaneous strikes at one assembly plant each of General Motors (GM.N), Ford (F.N) and Chrysler parent Stellantis (STLAM.MI). The city is home to Ford's Louisville assembly plant and its Kentucky truck plant. Ford CEO Jim Farley has previously said the Kentucky truck plant, which assembles F-Series trucks, is the company's most profitable plant globally. Fain has said Detroit automakers have not shared their huge profits with workers while enriching executives and investors.

Persons: Rebecca Cook, Stellantis, Shawn Fain, We're, Jim Farley, Ram, Eikon, Fain, Mark Reuss, Reuss, Hyunjoo Jin, Jamie Freed Organizations: United Auto Workers, REUTERS, UAW, Detroit Three, General Motors, Ford, Chrysler, Wednesday, GM, GM's, Silverado, Detroit, Detroit Free Press, Toyota, Tacoma, EV, Thomson Locations: Toledo , Ohio, U.S, furloughing, Louisville , Kentucky, Louisville, Kentucky, San Francisco

☆ Here's a rapid-fire update on all 35 stocks in the Club's portfolio, including a new buy
▼ + stars: | 2023-09-21 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +12 min

Here's a rapid-fire update on all stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. But for investors who haven't bought into its steep pullback, it's reasonable to buy some shares at current levels around $146.50 each. Unless you believe inflation is going to keep raging, making Microsoft's price-to-earnings multiple too high, then this stock is a buy. Nvidia (NVDA): Investors who don't own Nvidia yet should use its recent weakness to start a position, Jim said. Pioneer Natural Resources (PXD): We decided to buy additional Pioneer shares Thursday as the stock fell more than 2%.

Persons: Jim Cramer's, Jim, Amazon, he's, could've, We're, Jefferies, it's, we'd, Dupont De Nemours, That's, Dupont, Danaher, Bob Iger, Estee Lauder, haven't, Locker, Marry Dillon, Leqembi, Eli Lilly's donanemab, Vimal Kapur, Eli Lilly, Mark Zuckerberg, Morgan Stanley, Morgan, we're, James Gorman, Oracle, Safra Catz, Elliott, Stanley Black, Decker, TJ Maxx, Wells Fargo, Wells, Wynn, Jim Cramer Rob Kim Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Web Services, Broadcom, Google, Bausch Health, Health, Caterpillar, Costco Wholesale, Costco, Coterra Energy, Coterra, Emerson, National Instruments, Ford, United Auto Workers, GE Healthcare, Honeywell International, Honeywell, Linde, LIN, Mounjaro, Meta, Microsoft, Nvidia, Oracle, Palo Alto Networks, Procter & Gamble, Natural Resources, Starbucks, Constellation Brands, Constellation, Elliott Management, TJX, Marshalls, Wynn Resorts, WYNN Locations: China, India, Dupont, Emerson, Meta, Beijing, HomeGoods

☆ Where key issues stand as UAW closes in on extended strikes against GM, Ford and Stellantis
▼ + stars: | 2023-09-21 | by ( Michael Wayland | ) www.cnbc.com time to read: +8 min

Headline economic issues and benefits such as hourly pay, retirement benefits, cost-of-living adjustments, wage progression and work-life balance remain central to the discussions. Here's a general overview of where the union and companies stand on key issues. Wage tiers — putting autoworkers into distinct pay ranges or classifications — is a tricky, moving target. The companies and union have defined tiers differently during past negotiations as well as during the talks this year. UAW leaders are specifically concerned with vehicle production commitments at Stellantis, which has proposed closing, selling or consolidating 18 facilities.

Persons: Ryan Sullivan, Chris Sanders, Stone, Casey Miner, Kennedy R, Barbee, Stephen Brown, Sarah Rice, Shawn Fain, Mark Reuss, there's, wouldn't, GM Organizations: United Auto Workers, Jeep, Getty, DETROIT, Detroit, UAW, General Motors, Ford Motor, Union, Media, GM, Ford Locations: Toledo , Ohio, Michigan , Ohio, Missouri, Wells Fargo, Here's, Stellantis

☆ Stellantis and GM furlough dozens of workers, warns hundreds more could come as strike continues
▼ + stars: | 2023-09-20 | by ( Vanessa Yurkevich | ) edition.cnn.com time to read: +3 min

More layoffs are anticipated at Kokomo Transmission and Kokomo Casting in Kokomo, Indiana, impacting an additional 300 employees there, the company said. Ford and General Motors already laid off or warned of idling employees at two of their plants because of the targeted strikes. General Motors idled 2,000 employees at the company’s Fairfax Assembly Plant in Kansas due to the UAW’s targeted strike on its Wentzville Assembly Plant in Missouri, the company announced Wednesday. Due to the specific circumstances of this situation, impacted employees are not eligible for company-provided SUB-pay,” the company said in a statement. GM said it continues to bargain in good faith and is scheduled to be at the main bargaining table with the UAW today.

Persons: Stellantis, Stellantis . Ford, Fairfax, Shawn Fain Organizations: CNN, United Auto Workers, Kokomo, Stellantis, General Motors, Ford’s Michigan Assembly, Fairfax Assembly Plant, GM, UAW Locations: Toledo, Perrysburg , Ohio, Kokomo , Indiana, Wayne , Michigan, Fairfax, Kansas, Wentzville, Missouri, Kansas City

TOKYO (AP) — Asian shares declined Wednesday as markets awaited a decision on interest rates by the Federal Reserve. Trade data for Japan showed exports fell 0.8% last month from a year ago, marking the second straight month of declines, as exports to China lagged, dropping 11%. Markets have see-sawed for weeks on uncertainty about whether the Fed is done with its market-shaking hikes to interest rates. The Fed began its latest meeting on interest rates Tuesday, with an announcement scheduled for Wednesday. Traders are split on whether the Fed may raise rates again this year, but they’re largely expecting the Fed to begin cutting rates next year.

Persons: Australia's, Robert Carnell, they’re, homebuilders, Brent Organizations: TOKYO, Federal Reserve, Nikkei, Finance Ministry, ING, Dow Jones, Nasdaq, Fed, Wednesday, Traders, Instacart, Walt Disney Co, U.S . Steel, United, Detroit’s Big, Ford, General Motors, UAW, New York Mercantile Exchange, U.S Locations: Hong, Shanghai, Japan, China, U.S, Europe, Asia, Pacific, Beijing

☆ Auto jobs are booming in the union-hostile South
▼ + stars: | 2023-09-20 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +8 min

New York CNN —Looming over the United Auto Workers strike: Automakers’ continued migration to the anti-union South. Jobs at nonunion EV battery facilities pay less than the roughly $32 an hour that veteran UAW workers make. Since 1990, the South’s share of auto jobs has doubled from around 15% to 30% today, according to S&P Global Market Intelligence. Mostly nonunion EV jobs and manufacturing investments are surging in Southern states led by Republicans. The South has picked up 66% of planned EV jobs, while projects in Midwestern states such as Michigan, Indiana, Kansas and Ohio have combined for 26% of planned jobs, according to S&P Global.

Persons: ’, Ford, nonunion autoworkers, ”, Stephen Silvia, Southern, Mason, Honda, Deni McIntyre, unionize, “ It’s, Nelson Lichtenstein, Jeffrey Greenberg, Lichtenstein, Bill Lee, Nikki Haley, Houston Cofield, Biden, Biden’s, Shawn Fain Organizations: New, New York CNN, United Auto Workers, General Motors, Volvo, Benz, BMW, Toyota, Hyundai, American University, Southern Gamble, Workers, Foreign, Ford, GM, Dixon, Midwest, UAW, EV, P Global Market Intelligence, Nissan, Mercedes, Volkswagen, Kia, CNN, University of California, Clinton Presidency, Universal, Southern Republican, South . Tennessee Gov, Former South Carolina Gov, Republicans, North Carolina –, Environmental Defense Fund, P Global, Ford Motor Co, SK Innovation Co, Bloomberg, Getty, Big Three Locations: New York, Detroit, Smyrna , Tennessee, Spartanburg , South Carolina, Vance , Alabama, Lincoln , Alabama, Germany, Santa Barbara, Clinton, Korean, United States, Tennessee, Kentucky, Alabama, South, Chattanooga, Southern, – Georgia, South Carolina , Kentucky, North Carolina, Midwest . Georgia, Michigan, Indiana , Kansas, Ohio, Stanton , Tennessee, BlueOval

The nearly week-old United Auto Workers strike against Ford (F.N), General Motors (GM.N) and Stellantis (STLAM.MI) is viewed as a signal of the strength of the U.S. labor movement that has garnered national support from Americans. The UAW members from two striking plants gathered in Toledo were rolling out for the one-hour, 45-mile (72 km) drive to Wayne, Michigan, where Ford workers also walked off the job last week. In Michigan, Ohio and Missouri, the three states where workers are currently striking, models made by the Big Three dominate the leaderboard of new auto registrations. The United States is still the second-largest car market in the world, trailing only China. Union membership has fallen steadily over several decades in the United States.

Persons: Esperanza Ledesma, I'm, Ledesma, Roxanne Stadtfeld, Stadtfeld, Randi Weingarten, Liz Shuler, Weingarten, Brandon Cappelletty, Cappelletty, Ben Klayman, Joe White, David Gaffen, Jamie Freed Organizations: Fords, United Auto Workers, Ford, General Motors, UAW, GM, Big, P Global, Union, American Federation of Teachers, AFL, Thomson Locations: TOLEDO , Ohio, Toledo, Stellantis's, Ohio, Michigan, Wayne , Michigan, Monroe , Michigan, Lake Erie, Michigan , Ohio, Missouri, United States, China, U.S, Toledo , Ohio, Detroit

The UAW says it will strike against more U.S. plants on Friday if no serious progress was made in talks with automakers. The UAW launched a strike against Ford (F.N), General Motors (GM.N) and Chrysler parent Stellantis (STLAM.MI), last week, targeting one U.S. assembly plant at each company. [1/7]Striking United Auto Workers members Laura Zielinski and Aisha Cochra hold their strike signs outside the Stellantis Jeep plant in Toledo, Ohio, U.S. September 19, 2023. The strikes have halted production at plants in Michigan, Ohio and Missouri that produce the Ford Bronco, Jeep Wrangler and Chevrolet Colorado, alongside other popular models. Reuters GraphicsReporting by David Shepardson in Washington, Jahnavi Nidumolu in Bengaluru and Ben Klayman in Toledo, Ohio Editing by David Gaffen, Jamie Freed, Matthew Lewis and Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

Persons: Laura Zielinski, Stellantis, Ram, ”, Candis Holmes, Aisha Cochra, Rebecca Cook, Holmes, Julie Su, Gene Sperling, Ford, Unifor, David Shepardson, Jahnavi, Ben Klayman, David Gaffen, Jamie Freed, Matthew Lewis, Deepa Babington Organizations: United Auto Workers, Detroit Three, UAW, Ford, General Motors, Chrysler, Workers, GM's, Silverado, REUTERS, Ford Bronco, Chevrolet, Labor, Michigan Bronco, GM, Reuters, Thomson Locations: TOLEDO , Ohio, Michigan, Ohio, Wayne , Michigan, Toledo , Ohio, Toledo, U.S, Ford's Wayne , Michigan, Michigan , Ohio, Missouri, Chevrolet Colorado, Washington, Detroit, Kansas, Canadian, Canada, Kentucky, Dearborn , Michigan, Kansas City , Missouri, Bengaluru, Ben

☆ Canadian autoworkers union reaches tentative labor deal with Ford, averting strike
▼ + stars: | 2023-09-19 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

CNN —The union representing Canadian autoworkers at Ford has reached a tentative deal with the US automaker, keeping more than 5,000 union members on the job and providing some good news for an industry dealing with unprecedented labor disruptions. Details of the deal between Ford and Unifor, the Canadian union, were not immediately available. “We leveraged our union’s most powerful weapon: the right to strike,” Unifor said in its statement Tuesday evening. The issues in the Canadian labor negotiations greatly mirrored the issues behind the UAW strike against those three automakers. The companies, which are reporting record or near-record profits, all say they have offered the UAW members raises totaling about 20% during the life of the contracts, including immediate 10% raises.

Persons: Unifor, ” Unifor, “, Ford, It’s, That’s Organizations: CNN, Canadian, Ford, United Auto Workers, Ford Edge, Lincoln Nautilus, UAW, Motors, North American, Jeep, Dodge, Chrysler Locations: Canada, Toronto, Windsor , Ontario, Detroit, Wayne , Michigan

TOKYO (AP) — Asian shares were mostly lower in cautious trading Tuesday ahead of the Federal Reserve’s upcoming decision on interest rates. “Market sentiment remained in its usual wait-and-see ahead of the Federal Open Market Committee meeting this week,” said Yeap Jun Rong, market analyst at IG. Political Cartoons View All 1167 ImagesStocks have been see-sawing since early August on uncertainty about whether the Fed will finally end its hikes to interest rates. Attention will mainly focus on forecasts Fed officials will publish about where they expect interest rates, the economy and the job market to head in upcoming years. But just as much attention will be on what Fed officials say about next year, when investors expect the Fed to begin cutting interest rates.

Persons: Australia's, Seng, ”, Yeap Jun Rong, it’s, Doug Ramsey, It’s, Ramsey, Clorox, Ford, That’s, Brent Organizations: TOKYO, Federal, Nikkei, IG, Dow Jones, Nasdaq, Traders, CME Group, Fed, Ford, General Motors, United Auto Workers, Exxon Mobil, Marathon Petroleum, New York Mercantile Exchange, U.S Locations: Hong, Shanghai, Japan's

☆ EV charging needs big improvements soon if the auto industry's transition is going to work
▼ + stars: | 2023-09-19 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +11 min

Simply put, America's patchwork of CCS chargers offers spotty coverage, hard-to-use devices, and, too often, chargers that are broken. Not to mention, there are fewer than 12,000 CCS fast chargers across the U.S. today. Opening up the Tesla charging network to our customers, that's about them and it scales very quickly for them. watch nowThe broad uptake of Tesla's charging tech is generally good news. What's more, Tesla's chargers all work the same way, whereas CCS chargers from rival companies may have very different procedures.

Persons: Mark Blinch, Reuters There's, General Motors, it's, Joe Biden, Tesla, Justin Sullivan, JD Power, Brent Gruber, Ford, John Lawler, Lawler, We're, Elon Musk, EVgo Organizations: Benz, Canadian, Reuters, Ford Motor, General, Volkswagen, Cox Automotive, Consumer, Energy, Institute, University of Chicago, Associated Press, NORC, for Public Affairs Research, United Auto Workers, EV, Public, U.S . Department of Energy, —, Detroit, CCS, University of California, JD, Ford EV, Ford, GM, Volvo, Mercedes, SAE International, ABB Locations: Toronto , Ontario, Canada, U.S, San Rafael , California, Berkeley, Bay, Swiss

☆ Bernie Sanders’s push for four-day weeks has merit
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +2 min

Senator Bernie Sanders speaks to the crowd as United Auto Workers President Shawn Fain and UAW Region 1 Director LaShawn English listen during a rally in support of striking UAW members in Detroit, Michigan, U.S., September 15, 2023. The United Auto Workers on Friday began strikes at Detroit carmakers Ford Motor (F.N), General Motors (GM.N) and Stellantis (STLAM.MI). Sanders voiced enthusiasm for their biggest demand: moving to a four-day workweek while maintaining five-day pay. UAW members pushed for this policy in the middle of the last century during a prior wave of automation. With artificial intelligence poised to reshape white-collar jobs, more workers might come to see things Sanders’s way.

Persons: Bernie Sanders, Shawn Fain, Rebecca Cook, Sanders, Jim Farley, Jonathan Guilford, Lauren Silva Laughlin, Sharon Lam Organizations: United Auto Workers, UAW, REUTERS, Reuters, Friday, Detroit, Ford, General Motors, X, Thomson Locations: Detroit , Michigan, U.S

☆ UAW president downplays White House involvement in strike talks
▼ + stars: | 2023-09-18 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

"This battle is not about the president," Fain said. Treasury Secretary Janet Yellen told CNBC in an interview Monday that the White House wants a "win-win" deal. Nearly 13,000 UAW members are on strike at three key plants in Michigan, Missouri and Ohio. Former President Donald Trump is also courting support from UAW members, while attacking the union's leaders, as he pursues another term in the White House. The UAW president said the union's members are prepared to escalate: "If the companies don't respond to the members' demands then we have to do what we have to do."

Persons: Shawn Fain, Bill Pugliano, Monday, Fain, Joe Biden, Julie Su, Gene Sperling, Janet Yellen, White, Yellen, Biden, who's, Donald Trump, Jim Farley Organizations: United Auto Workers, Sterling Heights Assembly, UAW, Ford, General Motors, Getty, Labor, White House, CNBC, MSNBC Locations: Sterling Heights, Sterling Heights , Michigan, Stellantis, Detroit, Michigan , Missouri, Ohio

☆ The UAW is playing with fire. Jim Cramer says Ford could be forced to flip the script
▼ + stars: | 2023-09-18 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

The United Auto Workers strike entered Day 4 on Monday, and both sides remained far apart on pay hikes. By striking Ford, the UAW is "playing with fire," according to Jim, who said the automaker might get tired of trying to appease union demands and just lock workers out. Ford CEO Jim Farley told CNBC last week that UAW demands would bankrupt the company. In addition to top-line pressure on its EV unit and companywide cost pressure from the UAW strike, Ford needs to work its way through this transition from high-profit ICE vehicles to the currently money-losing EVs. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, Jim, Ford, Jim Farley, Goldman Sachs, Tesla, Washington, Joe Biden, Biden, Jim Cramer's, Shawn Fain, Bill Pugliano Organizations: United Auto Workers, Ford, UAW, Detroit, Plant, Bronco, Ford's, General Motors, Chrysler, GM, CNBC, White House, Getty Locations: Michigan, Wayne, Wentzville , Missouri, Toledo , Ohio, U.S, Mexico, Detroit, Detroit , Michigan

Shares fell Monday in Asia, with Hong Kong's benchmark pulled lower by property stocks following reports that police had detained staff at the wealth management business of troubled real estate developer China Evergrande. U.S. futures edged higher and oil prices advanced. Political Cartoons View All 1163 ImagesEvergrande's Hong Kong traded shares were up 1.6% after plunging early in the session. The market had posted some gains last week following reports of several healthy economic indicators ahead of the Federal Reserve's two-day meeting, which ends Wednesday. Oil prices have been climbing over the summer after Saudi Arabia decided to maintain production cuts.

Persons: Australia's, Brent Organizations: Hong Kong, Dow, Nasdaq, Federal, U.S, United Auto Workers, Ford, Motors, Stellantis, Milan Stock Exchange, Traders, New York Mercantile Exchange Locations: Asia, China, ., Shenzhen, Shanghai, Hong, Seoul, Italy, Saudi Arabia

☆ A core frustration unites striking workers: Exorbitant CEO pay
▼ + stars: | 2023-09-18 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

Exorbitant CEO pay is a frustration shared by Hollywood creatives and Detroit autoworkers alike. Since 1978, the CEO compensation among America’s 300 biggest companies has gone up 1,460%, while the typical worker’s pay grew by just 18% (both adjusted for inflation), according to the Economic Policy Institute, a progressive think tank. Over the same period, CEO pay at the Big Three Detroit automakers — GM, Ford and Chrysler parent Stellantis — has jumped an average of 40%, or roughly how much of a raise striking workers are now demanding. But a company’s profit depends not only on bringing in hearty revenue, but also on keeping costs — including workers’ pay — low. CEO pay went up 40%… No one had any complaints about that, but God forbid the workers ask for their fair share,” he told CNN’s Jake Tapper last week.

Persons: New York CNN —, Hollywood creatives, Barack Obama, Adam S, Hersh, —, Mary Barra, Barra, Carlos Tavares, Jim Farley, Michael M, Shawn Fain, ”, CNN’s Jake Tapper, ’, ” Hersh, “, CNN’s Chris Isidore Organizations: New, New York CNN, Workers, Hollywood, Detroit, Economic Policy Institute, Chrysler, GM, Big Three Detroit, — GM, Ford, CNN, Guild of America, Los Angeles Times, UAW, “, EV Locations: New York, America, Barra, American, Kentucky, Tennessee

Denny Hamlin didn't chill Sunday with his bravado that this is indeed the year he will finally win a NASCAR championship. The day after his win at Bristol Motor Speedway hurdled Hamlin and his No. 11 team into the second round of NASCAR's playoffs, Hamlin was still pumping his chest. Hamlin shared a back-and-forth with the crowd, and that's when he first declared that this is, finally, his year. Hamlin only got the win in Bristol but was strong enough to sweep the opening two races, won by Larson and Reddick.

Persons: Denny Hamlin, hurdled Hamlin, Hamlin, ” Hamlin, Bubba Wallace, Joe Gibbs, Gibbs, He's, Hamlin didn't, Ross Chastain, Kyle Larson, Tyler Reddick, Joey Logano, Kevin Harvick, Hamlin gnawed, I've, I’m, I’ve, Ned Jarrett, Junior Johnson, “, ”, Martin Truex Jr, Christopher Bell, Truex, Logano, ” Truex, William Byron, Kyle Busch, Richard Childress, Chastain, Ford, Ryan Blaney, Brad Keselowski, Chris Buescher, Reddick, doesn't, Chris Gabehart Organizations: NASCAR, Bristol Motor, 23XI Racing, Darlington, Bristol, of Fame, JGR, ” Chevrolet, Hendrick Motorsports, Trackhouse, Team Penske, RFK Racing, Larson Locations: Tennessee, Phoenix, Kansas, Bristol

☆ These are the 11 sectors that comprise the S&P 500 — and the stocks we own in each
▼ + stars: | 2023-09-17 | by ( Paulina Likos | ) www.cnbc.com time to read: +28 min

.GSPF YTD mountain S & P 500 Financials Sector YTD performance Club stocks in the Financials sector: Morgan Stanley ( MS): The bank's services include investment banking, wealth management and investment management. Communication Services Sector market weight: 8.85% Market cap: $3.3 trillion YTD performance: up 44.5% Industries: Diversified telecommunication services; entertainment; interactive media & services; media; wireless telecommunication services. .GSPTS YTD mountain S & P 500 Communication Services Sector YTD performance Club stocks in the Communication Services sector: Walt Disney (DIS): The entertainment giant reported another mixed quarter last month, even against low expectations. Real estate Sector market weight: 2.44% Market cap: $909 billion YTD performance: up 0.9% Industries: Equity real estate investment trusts; real estate management & development. .SPLRCR YTD mountain S & P 500 Real Estate Sector YTD performance While we don't own any real estate stocks, investors have historically invested in the sector for its reliable cash flow from income-generating properties.

Persons: Jim Cramer's, Jim, Salesforce, reenergized, Marc Benioff, Wolfe, Palo, Eli Lilly, Cantor Fitzgerald, Bausch, bioprocessing, Morgan Stanley, Morgan Stanley's, Eaton Vance, Wells Fargo, Wells, TJX, Wynn, Locker, We've, Mary Dillon, Walt Disney, Bob Iger's, Emerson, Davidson, Vimal Kapur, Stanley Black, Decker, Estee Lauder, Gillette —, Elliott, Coterra, Linde, Jim Cramer, Mandel Ngan Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Technology Sector, Industries, Communications, Technology, Information Technology, Apple, Wedbush Securities, Microsoft, UBS, Deutsche Bank, Nvidia, Broadcom, VMware, Palo Alto Networks, Wolfe Research, Palo Alto, Oracle, Mizuho, Amazon Web Services, Google, Health Care, Biotechnology, Health, Bausch Health, Leerink Partners, GE Healthcare Technologies, General Electric, GE, Financials, Bank of America, United Auto Workers, Detroit, Ford, Starbucks, TJX, Marshalls, Wynn Resorts, WYNN, Communication Services, Communication, Hollywood, Charter Communications, Disney, JMP Securities, Facebook, Industrials, Aerospace, Emerson, Caterpillar, Honeywell, Consumer Staples Sector, Consumer, Consumer Staples, Costco Wholesale, Procter & Gamble, Gillette, Constellation Brands, Corona, Modelo, Pacifico, Elliott Management, Energy Sector, Energy, Coterra Energy, Natural Resources, West Texas, Utilities Sector, Electric, Companies, Sempra Energy, Materials, Chemicals, Linde, LIN, DuPont, Sector, Equity, Real, Jim Cramer's Charitable, New York Stock Exchange, AFP, Getty Locations: U.S, FactSet, bioprocessing, Wells Fargo, China, Maxx, Macao, Asia, Pacifico —, California, Texas

The truth is we are going to wreck the billionaire economy," said UAW President Shawn Fain. UAW vice president Chuck Browning, who is leading talks with Ford, told a rally of hundreds of UAW workers in downtown Detroit on Friday afternoon that recent talks have made "good progress, but we have far to go." Striking workers said "tier two" employees can make only half the hourly wages of senior UAW workers and get worse benefits. GM said on Thursday the UAW wage and benefits proposals would cost the automaker $100 billion, but did not elaborate. Biden's likely opponent, former president Donald Trump, on Friday criticized the shift to EVs as a job-killer for the UAW.

Persons: Ford, We’re, Shawn Fain, Chuck Browning, Joe Biden, Bruce Baumhower, Rebecca Cook, Arthur Wheaton, Jim Farley, Mary Barra, Bernie Sanders, “, Sofus Nielsen, Biden, Julie Su, Gene Sperling, White, Stellantis, Fain, Biden's, Donald Trump, Joseph White, Kevin Krolicki, David Shepardson, Steve Holland, Mehr Bedi, David Gaffen, Peter Henderson, Matthew Lewis, Chris Reese Organizations: DETROIT, United Auto Workers, General Motors, Ford Motor, Chrysler, Ford Bronco, Chevrolet, UAW, Ford, Detroit, Ford Michigan Assembly Plant, REUTERS, Cornell's School of Industrial, Labor, CBS, Reuters Graphics, Tesla, GM, Thomson Locations: Chevrolet Colorado, Kansas, Detroit, Toledo , Ohio, Wayne , Michigan, Barra, Wayne, Milan, Washington, Bengaluru

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